Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
Custora’s technology will help LivingSocial rapidly evaluate new customer acquisition efforts and focus on high-value customers.
April 1, 2013, New York, NY - Custora, a predictive analytics platform for ecommerce marketing teams, today announced an agreement with LivingSocial, the local marketplace to buy and share the best things to do in your city. LivingSocial will use Custora’s data-science-based platform to improve its efforts in predicting customer behavior and forecasting shopping activity, allowing LivingSocial to make faster marketing decisions and deliver more personalized and timely communications.
Specifically, LivingSocial is working with Custora on two initiatives. First, Custora’s technology will help LivingSocial rapidly evaluate new customer acquisition efforts and focus on high-value customers by predicting the lifetime value of shoppers across every channel. In addition, Custora will help LivingSocial drive more repeat purchases by delivering more relevant marketing and improve the customer experience for its 70 million members.
“Custora is giving us the right tools to analyze individual customer behavior and take action to improve the customer experience,” says Barry Judge, Chief Marketing Officer for LivingSocial. “In addition, Custora’s fast turnaround was a major benefit for us. Following the first demo, we were up and running in about a month.”
“To be successful in today’s world of ecommerce, retailers need to be smarter about how they find customers and how they encourage repeat business,” said Custora CEO Corey Pierson. “Our technology uses data science to uncover valuable customer insights and enables the whole marketing team to leverage those insights across both online and offline campaigns.”
Custora’s unique ability to predict the shopping behavior of individual customers will enable LivingSocial to rapidly test different marketing strategies for specific customer segments and act directly on their findings.
LivingSocial is the local marketplace to buy and share the best things to do in your city. With unique and diverse offerings each day, we inspire members to discover everything from weekend excursions to one-of-a kind events and experiences to exclusive gourmet dinners to family aquarium outings and more. We help local businesses grow by introducing them to high-quality new customers and give merchants the tools to make our members their regulars. Based in Washington, D.C., LivingSocial now has more than 70 million members around the world.
Custora is a predictive marketing analytics platform that helps retailers identify their most valuable customers and keep them coming back. Custora uses data science to provide brands with the insight on customer behavior necessary to develop, discover and automate more strategic marketing programs. Based in New York City, the company was founded in 2011 by entrepreneurs Corey Pierson and Jon Pospischil, and works with more than 100 online retailers, including Birchbox, Etsy and Fab.